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Do You Know When Your Insurance Cover Starts?

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August 26: Recently, IRDA slapped a heavy fine on a major insurance company for failing to honour 78 death claims. The claims were rejected on the grounds that the insured did not receive policy documents. Many of us do not know that an insurance contract starts as soon as a policy bond is prepared. In this segment, we tell you what this means and how this works in getting your death claims honoured.